DeepSummary
In this episode of the Millennial Investing podcast, host Patrick Donnelly interviews Scott Young, author of the book 'Get Better at Anything'. Scott shares his fascination with learning, starting from his teenage years when he began writing about study advice. He discusses his ambitious learning challenges such as the MIT Challenge, where he learned MIT's 4-year computer science curriculum in 12 months, and a language learning project where he traveled to different countries to learn languages through immersion.
Scott delves into how to achieve ambitious goals, emphasizing the importance of focusing on the process rather than just the outcome. He shares insights from his book, including the concept of 'creativity begins with copying' and the role of feedback in the learning process. Scott also explains why poker players can make better predictions than psychiatrists in certain domains.
Additionally, Scott talks about his online courses with Cal Newport, 'Top Performer' and 'Life of Focus', which help people build valuable skills and cultivate focus in their personal and professional lives. He also recommends books that have influenced him, such as 'Entangled Life' and 'Fear and Courage'.
Key Episodes Takeaways
- Pursuing ambitious learning challenges can build self-efficacy and shape one's perception of their capabilities.
- Learning from the best practices and experts in a field is crucial, especially for complex skills like investing.
- Continuous learning and being a 'learning machine' is more important than being the smartest or most diligent person.
- Copying and studying examples is a necessary foundation for developing creative skills.
- Setting goals based on the process rather than just the outcome can be more effective, as outcomes can be difficult to predict.
- Building a 'brain trust' or community around the skill you're learning can aggregate information and perspectives, leading to better learning.
- Seeking out feedback and understanding the process of growth and improvement is essential for mastering any skill.
- Cultivating focus and eliminating distractions is critical for deep work and extended concentration.
Top Episodes Quotes
- “I mean, I think you hit a good point, which is that the starting point for learning a skill like investing is going to be getting to the best practices, getting to the like. I am at sort of wherever the best investors are in their thinking about this. I am at that level. And the truth is that most people are not, and a lot of people are. Okay, I'm dabbling a little bit, and you're following some YouTube guy who's saying you should invest in something and it's not a particularly sound strategy.“ by Scott Young
- “I constantly see people rise in life who are not the smartest, sometimes not even the most diligent, but they are learning machines.“ by Charlie Munger
- “Creativity begins with copying.“ by Scott Young
- “I think sometimes constraining your projects based on process rather than outcome can be a bit better, just because outcomes can be difficult to predict.“ by Scott Young
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Episode Information
Millennial Investing - The Investor's Podcast Network
The Investor's Podcast Network
5/13/24